Social

VEREIT fosters a work environment that is inclusive, fair and engaged. Developing soft skills and nurturing leadership characteristics has been a focus as the Company develops its workforce. VEREIT empowers employees to strengthen their communities and has corporate practices in place to support social programs.

 

VEREIT is committed to model the behavior we expect from others. VEREIT employees are:

 

» Respectful

» Ethical

» Dedicated

» Collaborative

» Hard-Working

 

Community Involvement 

VEREIT Values is a program that was created in 2015 with the mission of connecting VEREIT employees with charitable organizations in their communities. Since its inception, employees have contributed a significant amount of time and resources to local nonprofit organizations, including:

 

» American Red Cross

» Big Brothers Big Sisters

» Clean the World

» Dress for Success

» HALO Animal Rescue

» New Alternatives for Children

» New Pathways for Youth

» New York Edge – Sports & Arts in Schools Foundation

» Pat Tillman Foundation

» Phoenix Children’s Hospital

» Phoenix Rescue Mission

» Ronald McDonald House Charities

 

Nonprofit Contributions

Through a Matching Gift program, employees generously contribute financially to eligible nonprofit organizations and contributions are matched. Since the program launched in 2015, approximately $400,000 has been donated to nonprofit organizations, many of which are environmentally-focused, including Charity Water, the World Wildlife Fund and The Nature Conservancy. VEREIT employees have also partnered with Clean the World in Florida, New York and Arizona. This organization collects unused hygiene items from hotels and recycles them into kits that are distributed around the world. 

 

Tenant Contributions

VEREIT leases space to a diverse group of tenants who provide significant social contributions to their communities. VEREIT’s tenants include manufacturing companies that lease industrial space in rural areas, retail tenants that are located in dense metropolitan locations, and office tenants across the country. These companies contribute greatly to their communities. One of VEREIT’s recent acquisitions was a large manufacturing facility in Monroe, LA which is leased by Graphic Packaging, a developer of paperboard packaging products. This facility employs hundreds of individuals in the rural area. VEREIT’s retail tenants are making significant strides in improving the wellbeing of their communities as well. Tenants such as CVS and Walgreens are making health treatment and care more accessible across the country and educating customers about holistic wellness. The Home Depot provides training to skilled tradespeople in support of the development of the industry pipeline. The retailer also plays an important role in disaster relief efforts across the country. 

 

A number of VEREIT’s tenants, including Michelin, Amazon, Nestle and FedEx were included on the Forbes list of the World’s Most Reputable Companies for Corporate Responsibility in 2019. 

 

Employee Training and Education

To encourage employees to become more proficient in their jobs and prepare for greater responsibility, VEREIT offers reimbursement to individuals who seek career development opportunities through obtaining certain professional certifications, designations or licenses. The Company provides annual cyber security, ethics, harassment and compliance training to all employees. Additionally, VEREIT employees are given development opportunities through an annual goal setting and review process. VEREIT has also partnered with a third-party consultant to provide leadership training to employees at the Vice President level and above. A survey was provided to employees after the training was completed to gather feedback which has been used for forward-looking employee training and education planning.

 

Newly hired employees receive training at the beginning of their employment including an overview of the VEREIT business, our corporate culture, and policies outlined in our Code of Business Conduct and Ethics as well as our Employee Handbook.

 

Ongoing training and awareness are initiated by VEREIT’s robust cyber risk management program that is aligned to National Institute of Standards and Technology (NIST) Cybersecurity Framework. Cyber risk management is integrated into business operations through executive and senior leadership committees that partner with Information Technology on initiatives to mitigate the cyber threats facing the Company. Key aspects of the program include maintaining technology standards, ongoing training and awareness campaigns for all employees, and testing of security controls. Cybersecurity strategy and operations are managed by a dedicated security team and leading third party security specialists, covering all aspects of cybersecurity, including program maturity, threat detection and response.

 

Social Employees

 

Human Rights

VEREIT is committed to protecting the human rights of its employees and any individual impacted by the business. VEREIT complies with all U.S. laws regarding human rights and strives to create a supply chain that abides by the same standards. VEREIT observes regulations created to protect vulnerable individuals, including laws to prevent human trafficking and child labor.

 

Employee Engagement

Transparency is one of VEREIT’s central commitments, and it carries through to employee communications. VEREIT has developed regular communication schedules to engage with employees and foster a unique Company culture. VEREIT conducts quarterly interactive town hall meetings to ensure all employees partner in business updates and the Company’s success. VEREIT employees also benefit from monthly letters from Glenn Rufrano, VEREIT’s CEO, Lunch & Learn events, quarterly Senior Vice President meetings, intranet communications and more. Twice a year we recognize employees who exemplify our company mission by awarding the Veritas Award.  The Veritas Award recognizes an individual for his or her outstanding contributions to the company by providing financial support toward conferences or continued education and sponsoring a team building event. We empower our employees by having them lead and participate in committees that create our engagement programs. Our employees are asked to be a part of several committees, focusing on employee engagement, community outreach, wellness, cybersecurity, employee recognition and charitable giving. Through these initiatives, VEREIT’s workplace culture is open and encouraging. VEREIT also conducts periodic employee surveys to assess and evaluate employee satisfaction with working conditions and corporate culture. Last year, 89% of VEREIT employees participated in a survey to provide insight on corporate programs and benefits. VEREIT has received multiple awards for having an outstanding corporate culture. The Company was named one of Arizona’s Most Admired Companies by AzBusiness in 2017 and 2018 and one of the Phoenix Business Journal’s Best Places to Work in 2018.

 

Work-Life Balance

VEREIT strives to bring out the best in all employees, both personally and professionally. VEREIT maintains a quality vacation policy which provides employees paid vacation time in addition to accrued paid personal days, along with numerous paid Company holidays. The Company recognizes the importance that the birth, adoption or foster care placement of a child has on an employee’s family. VEREIT is proud to offer paid parental leave to eligible employees in addition to vacation and paid personal days. VEREIT enjoys early release summer Fridays, closing at 3:00 pm on Fridays between Memorial and Labor Day. The VEREIT leadership team encourages wellness and recognizes that having a balanced work and personal life is an important component of employee health.  

 

Employee Benefits

VEREIT is a dynamic company that offers employees a supportive work environment, comprehensive benefits, competitive compensation packages and a variety of rewarding job opportunities. Employees enjoy a recognition program, referral program, on-site dry-cleaning services and subsidized lunches. Specific benefits include:

 

»Medical, dental and vision

»Life insurance and disability insurance

»Employee Assistance Program

»401K plan matching

»Flexible Spending and Health Savings Accounts

VEREIT employees receive total compensation packages that reflect their significant value at the Company.

 

Non-discrimination policies

VEREIT’s diversity is a tremendous asset. The Company is firmly committed to providing equal opportunity in all aspects of employment. VEREIT does not tolerate discrimination or harassment in any form, including verbal, physical and visual conduct, threats, demands and retaliation, because of race, color, religion, sex, national origin, age, disability, sexual orientation, gender identification or expression, genetic information or any other basis made unlawful by federal, state or local law, ordinance or regulation.

 

The diverse backgrounds, opinions and experiences of the VEREIT team allow the Company to provide best in class real estate operations to leading brands across the country. VEREIT is a dynamic, highly-regarded organization, where the highest level of professionalism is at the core of all interactions. VEREIT provides employees with a safe and healthy work environment. The Company will make reasonable accommodations for the known physical or mental disabilities of an otherwise qualified applicant or employee as required by applicable law. Additionally, VEREIT’s colleagues model its commitment to diversity through contributions promoting inclusion in the marketplace, such as:

 

»VEREIT’s Board Member, Mary Hogan Preusse is a member of The Dividends Through Diversity and Inclusion Initiative’s Steering Committee for Nareit.

 

»Karen Halpert, VEREIT’s Senior Vice President and Head of Property Management, is an active member of the Arizona Commercial Real Estate Women (AZCREW) association and served as chapter President in 2013.

 

VEREIT has been designated as a “winning” company by the 2020 Women on Boards organization for having more than 20% women on its Board of Directors. Gender diversity is important at all levels of the organization. In comparison to NAREIT’s 2019 Compensation Survey results, VEREIT has a more diverse workforce than the industry average.

 

Diversity at VEREIT

 

 

Board of Directors

Management Committee

Total Employees (as of 12.31.19)

Managers and Above (as of 12.31.19)

2019 Promotions

Tenure > 5 years

Percent Tenure > 5 years

Women

2

3

85

41

14

45

52.9%

Men

5

4

73

46

13

26

35.6%

Total

7

7

158

87

27

71

44.9%

 

29% women

43% women

54% women

47% women

52% women

63% women

 

 

Industry Development

VEREIT has prioritized the opportunity to positively influence the real estate industry. With this objective, VEREIT has implemented a talent acquisition strategy that involves partnerships with local universities. The Company offers paid internships each year in support of the development of future real estate professionals. Glenn Rufrano, VEREIT’s CEO, serves on the real estate institute advisory boards at New York University and at Baruch College. He also serves on the Dean’s Council for the W.P. Carey School of Business at Arizona State University. Paul McDowell, VEREIT’s Chief Operating Officer, serves on the Dean’s Advisory Council for Tulane University’s School of Liberal Arts. Our interns are recruited nationwide and represent a diverse group of specialization in departments across our organization.

 

VEREIT has partnered with Arizona State University, Florida International University, The New York University Schack Institute of Real Estate and Baruch College to provide class sponsorships, scholarships, guest speakers and other avenues of support.

 

In addition to VEREIT’s support of educational institutions, Glenn Rufrano also serves on the National Association of Real Estate Investment Trusts’ Advisory Board of Governors and is a Trustee of the International Council of Shopping Centers and Urban Land Institute. Thomas Roberts, VEREIT’s Chief Investment Officer, and Chuck Vogel, Senior Vice President of Real Estate, are active members of the Urban Land Institute as well. Mr. Roberts has participated in the organization’s Partnership Forum to provide mentorship to young professionals in the real estate industry. VEREIT’s leadership team participates in numerous speaking events hosted by universities, industry groups, legal associations and business partners to enrich and develop the industry as a whole.

 

Employee Wellness

At VEREIT, employee wellness is encouraged in every aspect of life, including physical fitness, mental well-being and social connectedness. Through VEREIT’s wellness program, employees are given opportunities to gain awareness of their physical and mental health and receive education focused on making positive changes for self-improvement. VEREIT employees have the opportunity to utilize Company provided standing desks and wearable fitness technology and enjoy competing in walking challenges and step contests to win prizes. VEREIT employees also have access to a complementary work out facility at Phoenix headquarters. Prioritizing the health of VEREIT employees facilitates the growth of a more productive community within the organization and beyond.

Employees

At VEREIT, we are committed to serving our tenants, stakeholders, and employees through our business approach which is disciplined, transparent, and consistent.  This model permeates into every part of our business, including company culture, environmental initiatives, and our community involvement. Learn more about VEREIT's Corporate Responsibility: